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Reversal of unrealised gain on foreign exchange

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 August 2012 hi, whether the unrealised gains accounted on monetary items (debtors) at the year end as at 31st march 2011 should be reversed subsequently in the next financial year eg:0n 1st april, 2011.
Please advise.....
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
12 August 2012 Either reverse full and book a new entry

or

Pass incremental entry.

both are accpetable.

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